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What is the yield to maturity of a 16-year bond that pays a coupon rate of 8 percent per year, has a $1,000 par value,

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What is the yield to maturity of a 16-year bond that pays a coupon rate of 8 percent per year, has a $1,000 par value, and is currently priced at $916? Round your answer to the nearest whole percent and assume quarterly coupon payments. A) 8.99% B) 9.5% C) 2.24% D) 4.5% E) 18%

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